3. Money Market Or Saving Account With High Interest And High Limit ACH?

Money Market Or Saving Account With High Interest And High Limit ACH?

obi
obi   |     |   2 posts since 2014

Right now I use fnbodirect, 1.85% APY and 25K a day ACH transfers. I use it for occasional transfers in and out of higher rate accounts which have miniscule ACH limits. fnbodirect is not ideal, since $25K is still limiting and the number of days they take for a transfer is annoyingly large.

Does anyone have a bank to recommend that would be an improvement. Reasonably high rate, and less limited and faster ACH?

  Post a comment
4


FrankSavage
FrankSavage   |     |   15 posts since 2017
Sent you a PM.
Reply
1
atikovi
atikovi   |     |   1 posts since 2018
Check PurePoint with 1.90 APY.
Reply
1
RJM
RJM   |     |   501 posts since 2011
All American/redneck pays 2% and although they have low ACH limits, you can usually call ahead and get approval for larger amounts.

The downside: The 2% is only on the first $50k.

It might be worth opening a brokerage account at Vanguard. Their money market pays a very good rate and I read someone say they have free wire transfers.

VMMXX pays 2.06/2.08%.

I am with Fidelity and I use them for ACH but they pay less....1.83% but I am hoping they reduce their abnormally high fees for that account. They charge ..42% versus Vanguards .16%.

But Fidelity hands out free trades while Vanguard does not. They gave me 500 free trades over 2 years for a $100k deposit. The $100k needs to stay for 9 months. While I wont use 500 free trades, I will use some and it will allow me to purge my accounts of small positions without it costing me $4.95 each.
Reply
3


The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.